FTSE 100, DAX 40 trade near record highs as CAC 40 approaches July peak
FTSE 100, DAX 40 trade near record highs as CAC 40 approaches July peak as US stock markets are shut for Trump inauguration.
FTSE 100 trades near record high
The FTSE 100's strong rally has taken it to a record high at 8,534 on Friday, below which it is now trading amid closed US stock markets due to Donald Trump's inauguration as the 47th US President.
Above 8,534 lies the 8,600 region while the May peak at 8,479 is expected to offer support ahead of the major 8,419-to-8,372 support area, made up of the July-to-December highs.
DAX 40 flirts with the 21,000 region
Last week the German DAX 40 index hit three straight all-time highs and rose to 20,926 with the 21,000 mark remaining at hand.
Minor support is seen at the 16 January 20,705 high, Friday's 20,632 low and Thursday's 20,576 low and further support around the 20,527 December peak.
CAC 40 approaches July peak
The CAC 40 has seen a strong rally over the past three days, mimicking its European counterparts, and is about to hit its 7,742 July peak. Together with the 7,813 September high it may act as considerable resistance, though, at least this week.
Potential slips may find support around the 7,694 August peak or the 7,644 mid-October high. Further potential support is seen along the 200-day simple moving average (SMA) at 7,592.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Take a position on indices
Deal on the world’s major stock indices today.
- 1-point spread on the FTSE 100 and Germany 40
- The only provider to offer 24-hour pricing
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
